The COVID-19 outbreak in the U.S. is seen as a larger risk than mass layoffs or a global recession

TORONTO, April 14, 2020

Follow the Modus Business Monitor, the B2B omnibus service from Modus Research, as we survey Canadian businesses over throughout COVID-19 outbreak and the recovery.

Canadian business leaders see many risks looming for the Canadian economy

The latest survey from the Modus Business Monitor of over 850 Canadian managers and executives (March 25 to 31) reveals the extent of concern about the risks to the Canadian economy across business leaders presented by COVID-19. (Note that these results are based on a scientific sample of Canadian business leaders rather than members of lobby groups or the Twitterati.)

  • A strong majority of Canadian business leaders see the impact of COVID-19 on the U.S. economy as a major risk to the Canadian economy.
  • Other risks also loom large, including mass layoffs and a global recession.
  • Much fewer are concerned about the impact of border closings.

Concerns about risks to the Canadian economy are much larger than prior to the COVID-19 outbreak

The Modus Business Monitor tracks perceived risks to the Canadian economy regularly. They are much more widespread now than before the COVID-19 outbreak.

  • Just this past summer there was no issue that caused a majority of business leaders to regard it as a major risk to the Canadian economy. Household debt was the highest at 46%.
  • Today, concerns about a recession in the global economy are much higher than last summer, with over 60% citing it as a high risk.

About the Modus Business Monitor

The Modus Business Monitor is Canada’s only B2B omnibus service. For reliable and accurate results without the cost of a custom business survey, the Monitor offers our clients the flexibility they need.

For more information on this release or the Modus Business Monitor please contact:

Charlie Graves
President, Modus Research
Phone: 1-800-254-6944 x224
Email: cgraves at modusresearch dot com

About Modus Research

Established in 2012, Modus Research is a full-service research agency that provides clients with actionable feedback from Canadian enterprises based on scientific samples. We offer our clients exclusive access to the Modus Business Panel – the gold standard of B2B research in Canada.